Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

Crude Oil technical outlook for 5th March 2013

19 sec read

crude_oildaily

 

Now crude is trading around 4960 ($90.40) & as we can see on charts the area around this level represent 61.8% feb correction level of last wave . At the same time this area is in combination of parallel support. Oversold indicators also hinting for a correction or sideways trading ahead.However there is no positive pattern or move.

Based on above studies, we will prefer to wait for a buying signal & thus prefer to buy for some possible targets around 5040 ($92.15) & then 5080 ($93). Only a day close below 4870 ($89.10) will reject the possibility.


Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

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